Terra’s LUNA continues to rise to new heights as markets continue to thrive, beating blockchain Binance Smart Chain to become the second largest cloud environment after leader Ethereum. At the time of writing, LUNA / USD is trading at around $ 99.99.
TerraUST’s Rising Demand supports LUNA’s Uptrend
So far this month, the Tera native has grown by more than 60%, easing the recent depressive trend in the crypto sector. Although Bitcoin falls below the $ 50,000 key mark, the LUNA token has seen stellar growth on the back of Terra ecology among Deep projects, while the stable currency Terra USD (UST) is in high demand.
Earlier this week, USC DAI – the oldest and most established player in this area – became the fourth largest stable coin in the market. What distinguishes board leaders such as USDT, USDC, and BUSD is that it is fully decentralized, employing algorithms and relying on cryptocurrencies rather than traditional financial instruments to maintain price stability and maintain relations with the United States. Dollars.
Terra Defi TV’s $ 20 Billion Win Win Binance Smart Chain
When it comes to the overall ecology, Terra TVLL is currently under $ 21 billion, up 55% more than last week alone. This is a huge total. Blockchain, unlike BSC, has only over 13 DeFi protocols with over 230 DFE projects and more than $ 17 billion in TVL combined.
Despite ongoing legal disputes with the SEC, Terra is still offering strong benefits, especially with the recent launch of DEX Astroport, which offers ASTRO an air simulator for users who want to lock their fluidity in the platform. Some analysts have warned that the LNA rally could be a result of declining supply due to this development, and that Tera’s current market value could be estimated. This may indicate a possible price adjustment for the recent LUNA price.
LUNA / USD Technical Analysis
Altcoin Sherpa, a well-known crypto influencer and analyst, recently predicted more bullying on the LUNA token. However, he warned that the market could react strongly to ATHs, advising traders interested in buying LUN to step back into new positions or wait for new ATHs breaks.
Looking at the LUNA / USD H4 chart, we find a strong bias between the moving averages and the leading technical indicators MACD and Momentum. The $ 100 key seems to be breaking soon.
Terra’s LUNA broke the pole at $ 69.74 and two defenses at $ 87.43 and $ 96.66, respectively. Soon we could see more than $ 100 rest and smooth climb to new heights up to the third resistance at $ 123.58.